U.S. TO LAUNCH A SERIES OF NEW INITIATIVES TO STRENGTHEN ECONOMIC TIES WITH TANZANIA

Rhea-AI Summary

Titan Lithium Inc. (OTC Markets: CDSG) announced new economic initiatives between the U.S. and Tanzania following Vice President Kamala Harris's visit to Dar es Salaam. This visit resulted in a memorandum of understanding between the Export-Import Bank of the United States and the Tanzanian government, facilitating up to $500 million in financing for U.S. companies in sectors like clean energy and infrastructure. The initiatives aim to enhance economic ties and showcase Tanzania's role in the electric vehicle (EV) battery market, with plans for the country to establish a mineral processing facility for global EV supply.

Positive

• New initiatives to boost economic ties between the U.S. and Tanzania.
• Up to $500 million financing opportunity for U.S. exports to Tanzania.
• Tanzania positioning itself as a key player in the EV battery market.

Negative

• None.

Las Vegas, NV. , March 31, 2023 (GLOBE NEWSWIRE) -- Titan Lithium Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to report the announcement of several new economic initiatives between the U.S. and the Republic of Tanzania.

Recently Kamala Harris, Vice President of the United States, visited and spoke in Dar es Salaam, the counties commercial capital. During the visit by the VP, several initiatives were announced between the two nations, several of which will have a positive effect on the Titan Lithium projects. "Working together, it is our shared goal to increase economic investment in Tanzania and strengthen our economic ties," Harris stated.

First on the agenda was a new memorandum of understanding between the Export-Import Bank of the United States (EXIM) and the government of Tanzania that will facilitate up to $500 million USD in financing to help U.S. companies export goods and services to Tanzania in sectors including infrastructure and projects within the clean energy spectrum.

Directly addressing minerals that support the fast-growing Electric Vehicle sector, the VP praised the innovation and ingenuity of the country and how well the government is working the with private sector. Tanzania will soon be the first African nation to have a facility for the processing of minerals for supplying the global electric vehicle battery market.  

Harp Sangha, Chairman of the Company, noted “We are extremely pleased by various initiatives put forth that will serve to both strengthen economic ties between Tanzania and the U.S. as well as highlight Tanzania’s importance to the EV battery market.”

About the Company: China Dongsheng International Inc. (OTC Markets: CDSG), through its wholly owned subsidiary Titan Lithium, Inc., is a lithium explorer and developer with operations in Nevada, USA and The United Republic of Tanzania.

Contact:

Harp Sangha-Chairman

harp@titanlithiuminc.com                        

+1-702-595-2247

titanlithiuminc.com

Forward-Looking Statements:

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers.  Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission.

FAQ

What initiatives were announced between the U.S. and Tanzania on March 31, 2023?

The initiatives include a memorandum of understanding facilitating up to $500 million in financing for U.S. companies to export goods and services to Tanzania, particularly in clean energy and infrastructure.

How will the new U.S.-Tanzania initiatives impact Titan Lithium (CDSG)?

The initiatives are expected to positively impact Titan Lithium's projects by strengthening economic ties and increasing investment opportunities in Tanzania.

What is the significance of Tanzania's new mineral processing facility?

Tanzania will be the first African nation to establish a facility for processing minerals for the global electric vehicle battery market, enhancing its importance in this sector.